Antifibrinolytic, tranexamic acid suppresses plasminogen activation to plasmin in a competitive way. Tranexamic acid is approved for the management of heavy menstrual periods, hereditary angioedema, hemophilia, postpartum hemorrhage, surgery, tooth extraction, and severe blood loss after acute trauma. Here, the practical use of an isoindole derivative was established for a novel, easy‐to‐use, and affordable tranexamic acid assay. In the presence of a molecule containing a sulfhydryl group (2‐mercaptoethanol) 0.02% V/V, the primary amine moiety in tranexamic acid allows its combination with o‐phthalaldehyde to produce a luminous product. Excitation (338.8 nm) and emission (433.9 nm) wavelengths were used to monitor the isoindole fluorophore yield, and each operational variable was carefully examined and adjusted. The calibration graph was drawn by graphing fluorescence intensity versus tranexamic acid concentration, and excellent linearity was seen at concentrations between 40 and 950 ng/mL and LOD and LOQ were 41.3 and 13.6 ng/mL respectively. A critical evaluation of the ICH guidelines was used to confirm the validity of the method. The implementation of the method for tranexamic acid assay in various dosage forms, and urine was successful. The developed method was shown to be an effective, simple, and quick replacement for the tranexamic acid assay in the clinical trial and quality control.